One option you may want to look at is UnoPim. It is an open-source PIM built on Laravel and is available under the MIT license.

It covers the core PIM requirements such as centralized product management, attributes and enrichment, categories, localization, bulk import/export, APIs, product completeness, and multi-channel distribution. The current version also includes features such as AI-assisted product management and Digital Product Passports.

The source code is publicly available, so you can actually evaluate the product and architecture rather than just relying on a vendor demo.

GitHub: https://github.com/unopim/unopim

If you're evaluating open-source PIMs, I'd be interested to hear what your requirements are. Depending on your catalog size, integrations, and workflows, there may be a few options worth comparing.